Governor Peter Mbah of Enugu State has presented a 2025 budget proposal of ₦971 billion to the State House of Assembly.
Presenting the budget, tagged “Budget of Exponential Growth and Inclusive Prosperity”, on Tuesday, Mbah highlighted that the proposal represents a significant leap from the 2024 budget of ₦521.5 billion, reflecting an increase of 86.4%.
The budget comprises ₦837.9 billion for capital expenditure, representing 86%, and ₦133.1 billion for recurrent expenditure, accounting for 14%.
The governor described the proposal as a strategic move to foster private investment, eradicate poverty, and elevate the state’s economy to one of the top three in the country by Gross Domestic Product.
Mbah reiterated his administration’s commitment to education, allocating ₦320.6 billion, which represents 33.2% of the total budget.
“Education is both our ‘sword’ and ‘shield’ in this battle to achieve economic growth in our state and banish poverty among our people. This allocation maintains the ambitious direction we set in 2024,” he said.
The governor also announced a dramatic increase in the state’s Internally Generated Revenue (IGR), which rose from ₦37.4 billion in 2023 to ₦144.7 billion by September 2024, marking a 286.2% growth.
Mbah attributed this growth to deliberate measures to reduce reliance on federal allocations. He expressed confidence that the IGR would surpass ₦200 billion by the end of 2024.
The capital expenditure will be funded through a ₦559 billion transfer from the Consolidated Revenue Fund and ₦278.9 billion in capital receipts from external aid, grants, and loans.
The Speaker of the State Assembly, Hon. Uchenna Ugwu, commended Mbah’s leadership and assured the governor of the swift passage of the budget.
“We are inspired by your vision and achievements. Rest assured, the House will expedite consideration and approval of this budget to sustain the momentum of development,” Ugwu stated.
The governor reaffirmed his administration’s resolve to drive inclusive prosperity while laying the foundation for sustainable growth in Enugu State.